Our Economic Times: A Fraudulence for the Ages

Document Type

News Article

Publication Date

7-25-2012

Publication Title

Savannah Morning News

Abstract

This column was published in Savannah Morning News.

The myriad cases of fraud and corruption in the finance and banking industry over the last two decades have been truly staggering. It is clear that left to their own devices, major players in the industry seek profit at the expense of innocent customers, effectively hiding behind the veil of the corporation. This type of egregious behavior tugs at the moral fiber of the industry, severely compromising any integrity left on Wall Street. From the onset of his July 17 semi-annual speech to the U.S. Senate Banking and Finance Committee, Ben Bernanke, chairman of the Federal Reserve, was peppered with questions surrounding the manipulation of a key interest rate tied to hundreds of trillions of dollars in loans by a major international bank to its own gain...

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